TO: Margate CRA Chair and Members of the Board
FROM: Cale Curtis, CRA Executive Director
DATE: November 12, 2020
Title
AMENDING FISCAL YEAR 2019-2020 AND 2020-2021 ANNUAL BUDGETS
BACKGROUND: The MCRA annual budget for FY 2020-2021 was approved by the Board at the MCRA meeting on September 9, 2020. With the close out of the MCRA FY 2019-2020 budget, there was a balance of $ 2,128,608 remaining in the Operating Fund (140 accounts). In accordance with Section 163.387(7) Fla. Statues, these funds have to be carried over to the current fiscal year’s budget and allocated to projects and programs.
Attached are the budget amendments for fiscal years 2019-2020 and 2020-2021.
FY 2020-2021 includes a proposed amendment for SW 6th Street Improvements and additional funds allocated toward Land Acquisition.
RECOMMENDATION: Approval
FISCAL IMPACT: The fiscal impact of the budget amendment for each fund is detailed in attachments Exhibit A and Exhibit B to the resolution.
CONTACT PERSON: Cale Curtis, CRA Executive Director